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Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
 If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentiment changes in the blink of an eye. Regulations, tariffs, sanctions, you name it, all play their part. For some, volatility provides opportunities and possibilities to speculate and invest. For others volatility only prolongs the uncertainty and adds to the fatigue. Either way this is the current reality and there are no signs that things will change and become more predictable.
It is widely accepted that shorter cycles are here to stay. Orderbooks and scraping do play a role but sentiment and trade agreements are in the driver's seat. In an industry that is 100% capital intensive to begin with, now more than ever the need for quick reflexes is imperative.
Shorter cycles that span anywhere from 6 to 18 months mean that the opportunity to make money for shipowners is heavily dependent on the price they paid to acquire or build the asset. With that being said the term “asset play” gains a different meaning. The ability to be able to sell or buy an asset when opportunity arises will be very important to the survival let alone the prosperity of a shipping company. Asset play will become more complex and more structured. An early sign of this is last year's import regulations that China implemented that very quickly created a sub-market segregating Tier I and Tier II ships within each size segment.
Don't get me wrong, the way a company operates or charters their assets will still always be the main source of income and will stay at the core of the business model separating the good from the very successful, but the ability to let go of an asset or the capacity to buy an asset due to an opportunity, will give a significant edge to anyone that can do it.
In a market environment that financing remains scarce, expensive and for many still not easily accessible all of the above is easier said than done. But you can’t or at least you should not ignore where things are heading.
More than ever before, this industry is being led by people that know shipping or at least are willing to have a long presence in shipping. The outlanders that entered - or invaded for some - the previous years have either switched focus or have taken the back seat after years of failing to predict the market, realizing that liquidity is not easily achieved when all things go south.
All in all, as long as newbuilding ordering is rational and mostly driven by need of new tonnage and reasonable speculation, over-supply will stay in check, adjust and eventually cease to exist and in my humble opinion shorter cycles will play a role to that. For a shipping company this will make the need for increased SnP activity vital. We are moving towards an industry that will be even faster paced going forward, with new possibilities to be explored and new boundaries, technological and operational to be pushed. With the BDI currently at very low levels it is only logical that we cannot see the forest for the trees, but the forest is there and it is full of opportunities.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Australian Coal Association
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
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